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EX-10.1 - EXHIBIT 10.1 - Lincolnway Energy, LLCex10_1.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported)
September 28, 2017 (September 22, 2017)

LINCOLNWAY ENERGY, LLC
(Exact Name of Registrant as Specified in Its Charter)

IOWA
000-51764
20-1118105
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)

59511 W. Lincoln Highway, Nevada, Iowa
 
50201
(Address of Principal Executive Offices)
 
(Zip Code)

(515) 232-1010
(Registrant’s Telephone Number, Including Area Code)
 
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐
 


Item 1.01
Entry into a Material Definitive Agreement.

Lincolnway Energy, LLC (“Lincolnway”) entered into an Amended and Restated Distiller’s Grain Off-Take Agreement with Gavilon Ingredients, LLC (“Gavilon”) on September 22, 2017 (the “Off-Take Agreement”).  The Off-Take Agreement replaces the prior off-take agreement by and between Lincolnway and Gavilon dated December 2, 2013.  Under the Off-Take Agreement, Gavilon will receive a marketing fee to sell Dried Distillers Grain with Solubles (DDGS), Modified Distillers Grains with Solubles (MDGS), and PureStream™ Protein.  Gavilon will market DDGS and MDGS on a global basis and PureStream™ Protein in certain states.  The Off-Take Agreement has an initial term, and then renews for successive renewal terms unless either Lincolnway or Gavilon give the other written notice at least 90 days prior to the end of the then current term.

The foregoing description of the Off-Take Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Off-Take Agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01.
Financial Statements and Exhibits

(d)
Exhibits

Exhibit
Number
 
Description
     
*10.1
 
Amended and Restated Distiller’s Grain Off-Take Agreement Between Lincolnway Energy, LLC and Gavilon Ingredients, LLC
 

*
Material has been omitted pursuant to a request for confidential treatment and such material has been filed separately with the Securities and Exchange Commission
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
LINCOLNWAY ENERGY, LLC
 
     
Date: September 28, 2017
By:
/s/ Eric Hakmiller  
Eric Hakmiller
 
   
President and Chief Executive Officer
 
 

Exhibit Index

Exhibit
Number
 
Description
     
 
Amended and Restated Distiller’s Grain Off-Take Agreement Between Lincolnway Energy, LLC and Gavilon Ingredients, LLC
 

*
Material has been omitted pursuant to a request for confidential treatment and such material has been filed separately with the Securities and Exchange Commission